The Reserve Bank of India has announced an auction of Government of India Treasury Bills with a total notified amount of ₹24,000 crore. The auction is scheduled for Wednesday, July 22, 2026, and settlement will take place on Thursday, July 23, 2026.
The announcement was made through an RBI press release dated July 17, 2026. The auction will cover three maturities: 91-day, 182-day and 364-day Treasury Bills.
Auction details
According to the RBI release, the notified amounts for the three Treasury Bills are as follows:
- 91-day Treasury Bill: ₹9,000 crore
- 182-day Treasury Bill: ₹8,000 crore
- 364-day Treasury Bill: ₹7,000 crore
The total notified amount for the auction is ₹24,000 crore. The sale will be governed by the terms and conditions specified in the Government of India General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended from time to time.
Who can participate
The RBI said State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks and other persons or institutions specified by the Bank can participate on a non-competitive basis. Allocation for these participants will be outside the notified amount.
Individuals can also participate as retail investors on a non-competitive basis. For retail investors, allocation will be restricted to a maximum of 5 percent of the notified amount. Individual investors may place bids under the non-competitive scheme through the RBI Retail Direct portal.
Bid timings and method
The auction will be price-based and will use the multiple price method. Bids must be submitted electronically on the Reserve Bank of India’s Core Banking Solution, the E-Kuber system, on Wednesday, July 22, 2026.
Competitive bids will be accepted from 10:30 am to 11:30 am. Non-competitive bids will be accepted from 10:30 am to 11:00 am.
The RBI said the results will be announced on the day of the auction. Successful bidders will have to make payment on Thursday, July 23, 2026.
Physical bids only if system fails
The press release states that physical bids will be accepted only in the event of system failure. In such cases, bids must be submitted to the Public Debt Office in the prescribed form before the auction timing ends. The prescribed form is available on the RBI website.
For technical difficulties, participants have been advised to contact the Core Banking Operations Team. For other auction-related issues, the IDMD auction team can be contacted. The release was issued by Ajit Prasad, Deputy General Manager, Communications, under Press Release number 2026-2027/704.
Source: Reserve Bank of India Press Releases.